I would like to answer this question very happily. It is going to be long. Please read with patience and excuse me for my bad sense of humor and ridiculous puns.
Four years ago, I faced the same situation. I cleared the entrance exam of VIT and wanted to take up Mechanical
Engineering. But my cousin who had done Computer Science Engineering from IIT Delhi and had grabbed a big package suggested to take Computer Science. He also mentioned that more than 50% of companies who visit VIT are CS/IT based. But I went with my choice because in my heart I knew I could never study CS.
Is mechanical a bad option? No. Bring out those people who say that and I will fight them till they bleed. (not literally). It is not a bad choice. It is a choice for best people.
Just look at the things you get to learn in mechanical engineering. Mechanism design, product design, Force and stress analysis, structure design, energy generation methods, applications of fluid power, awesome internal combustion engines and turbines, working of cars and planes, strength of materials, thermodynamics, material engineering, metallurgy, machining and manufacturing, plant management, industrial engineering and many more. The learning is basically endless. You will never be out of things to learn. Mechanical engineering is what drives this world. Everything runs with a wheel. All of the CS/IT industry is dependent on mechanical engineers for their jobs and revenue. A computer or mobile doesn't look like that it involves mechanical engineers, but they are designed and manufactured by us. Without a good structural hardware your pc will just be a useless junk.
Yup you are right, the job market in India is very poor today. Industry is performing very badly, job are less and not much paying while in CS/IT sky is the limit.
Yes, the startups in mechanical industry are very difficult and expensive while there is ridiculous number of startups in CS/IT field. Hell, there are startups in market which help to startup.
Yes, mechanical jobs are very toll taking, involve a lot of physical work, running and managing manufacturing lines, following maintenance schedules while CS/IT jobs will involve a lot of sitting on desk and applying brain.
Yes, there is dearth of girls in Mechanical while in CS/IT you will have around 50% ratio.
So, all in all, mechanical is the tough road. It is not for everybody. Only very tough and awesome people can survive this onslaught and come out with flying colors in this endeavor. (Sorry I got extra emotional there, but that's because my journey was tough and awesome).
But remember there is still place for people who are very good. So that is what you will need to do. You will need to work very hard, extra hard than all others to make yourself front runner. After all it is the survival of the fittest.
And, remember that parents always want that we should have a safe future. So they will stress on taking CS. You got to decide whether you can bear all this to follow your dream and passion. It should be your decision and it will be your responsibility to prove it right.
Also, if you are in good college where lot of CS/IT companies, you will always have a chance to go into CS/IT sector even if you are mechanical. But, CS/IT people in Mechanical. Naaah. Never gonna happen.
Also, people who study mechanical are most chill and most awesome. I can bet on it. The friendships, the mahaul, the masti among mechanical engineers is always at a different level than other any other engineers. You can ask any engineer.
To make up your mind, ask yourself a question. Will you be happy if four five years from now, you have a job in giant CS/IT companies with typical posh office cultures and maybe salary around 10lakh but no interest or you will be happy to live at meagre 3 lakhs - 5 lakhs in a job which stimulates your brain every time. So, follow your gut, follow your dream.
And who knows what, after your engineering you have awesome ideas and potential to make new inroads in mechanical industry. You might be the savior our industry needs. (And if that happens, don't forget me.)
I think I have blabbed enough and have confused you even more. But I hope you will find the rope of your answer among this storm of chaos.
Any more doubts, I am at your service.